NEW DELHI :
The 12 months 2021 noticed a comeback for sports activities sponsorships and media offers, as in comparison with 2020, following a lull after the pandemic. The 12 months helped India obtain a billion-dollar scale with a 62% development over 2020, discovered a brand new report.
GroupM ESP, the leisure, esports and sports activities division of GroupM India has launched its sports activities sponsorship report for India 2021 which mentioned that the nation’s efficiency on the Tokyo Olympics has been a morale booster for budding sports activities expertise within the nation and 2022 will carry new alternatives in multi-sport occasions.
The dimensions of the Indian sports activities trade was estimated to have surpassed ₹9,500 crore in 2021, it mentioned. The corporate mentioned that is the ninth version of its report, ‘Sporting Nation in The Making’ which takes into consideration the sponsorship spends, participant endorsements and media spends on sports activities properties.
With ₹6,018, crore sports activities advert expenditure surpassed 2019 ranges on each, tv and digital. Cricket but once more, remained the most well-liked sport, accounting for 94% of the sports activities promoting expense. The media spends on cricket in 2021 was greater ( ₹5,657 crore) than the general media spends of 2019 ( ₹5,232 crore).
The spending on sports activities superstar endorsement grew by 11% year-on-year in 2021. A complete of 444 model endorsement offers have occurred in 2021, with cricketers accounting for 318 endorsement offers and 87% of whole model endorsement worth. The Olympic 12 months of 2021 elevated rising sports activities athletes’ endorsements by 79%, accounting for 13% of the general model endorsement worth.
Prasanth Kumar, CEO of GroupM South Asia mentioned, “The 12 months was a 12 months of a serious comeback for the sports activities trade. Not solely in sports activities however we noticed development in sponsorships, endorsements, and media bills in 2021. This 12 months can even be a great re-start level for manufacturers to put money into sports activities properties since sports activities will see an increase and can in-turn ship ROI to manufacturers.”
He added that aside from this, there was additionally esports gaining vital traction and there was a serious rise within the variety of avid gamers within the nation. Properties like Professional Kabaddi League, Indian Tremendous League, and so on. are additionally seeing a serious rise in followers which matches to point out that India is closely invested in general sports activities from an curiosity and inquisitiveness standpoint.
As for cricket, he added that the nation was seeing a rising curiosity by international non-public fairness giants investing within the sport which is proving that cricket will proceed seeing an enormous surge in India and with 2021 getting cricket again on observe, it’s prone to cross the ₹10,000 crore mark.
Acceptance of visible media for stay sports activities broadcast by followers led to an incredible demand for OTT platforms that are streaming a wide range of sports activities for his or her audiences.
Vinit Karnik, head of sports activities, leisure and esports for the agency added that cricket contributed 88% of the sports activities spend. IPL and T20 World Cup boosted the sports activities promoting expenditure development.
“We additionally noticed rising sports activities contributing 12% of the general sports activities spend. The media spends in 2021 have been the largest contributors, who accounted for nearly two-thirds of all sports activities trade spending. Whereas sports activities superstar endorsement was on the rise in 2021, Virat Kohli, MS Dhoni, Rohit Sharma, Neeraj Chopra and PV Sindhu are the highest athletes within the sports activities superstar model endorsement area. 2022 can be an thrilling 12 months with the Asian Video games, FIFA World Cup, Premier Badminton League, and plenty of extra properties arising.” mentioned Karnik.
On this 12 months, the media spends in sports activities noticed some heavy scoring in India as manufacturers and shoppers have been introduced nearer by broadcasters. Expertise additionally performed a really essential function in evolving the way in which folks recognize sports activities. The family penetration of TV units in several markets over the nation noticed a serious function within the development of sports activities properties. With this, TV continues to be the biggest medium since 2021 noticed general advert spends of ₹5051 crore, which was a development of 59% over 2020 and the nation noticed digital spends touching ₹965 crore
Supply: Live Mint